Got a few updates as to just how bad October was to some of our beloved hedge funds courtesy of Dealbreaker. Firstly, Blackrock's All-Cap energy hedge fund saw some rough waters last month.
"The ESTIMATED monthly and year-to-date (YTD) returns for The All-Cap Energy Hedge Fund as of 31 October 2008 were:
October 2008: -34.75%* net
YTD 2008: -54.0%* net"
But, they emphasize that these are based on 'estimated prices.'
"Greenlight Capital Offshore, Ltd:
MTD: -9.70%
YTD: -22.77%
Maverick Fund, Ltd:
MTD: -6.34%
YTD: -26.47%
Viking Global Equities LP
More specific breakdown:
Viking Global Equities III, Ltd. 2008:
Jan: -3.00
Feb: 3.40
Mar: -0.60
Apr: 3.90
May: 4.00
Jun: -0.20
Jul: 0.80
Aug: 0.50
Sep: -9.40
Oct: -1.10
YTD: -2.41
Viking Global Equities, LP
2008:
Jan: -3.00
Feb: 3.40
Mar: -0.60
Apr: 3.80
May: 0.60
Jun: -0.20
Jul: 0.80
Aug: 0.50
Sep: -7.70
Oct: -1.10
YTD: -3.92"
And, lastly, we see that Goldman Sachs Investment Partners, their $6 billion new fund this year has lost $989 million as of September, according to the FT. They are down 15.5% ytd as of September. The fund is ran by Raanan Agus and Kenneth Eberts, who formerly ran proprietary trading desks for Goldman. As per the FT,
"More than half of GS Investment Partners’ losses in the third quarter was from its investments in commodities, basic materials, metals, mining, energy and agriculture. But like many multi-strategy funds diversified across equity, credit markets and convertible bonds, GS Investment Partners was hit hard by losses on convertible bonds – debt instruments that can convert into equity. It said returns from the convertible asset class had been 'abysmal.' "
Additionally, the article mentions that Ken Griffin's Citadel Kensington fund is now down 37% year to date as of October 27th. We recently wrote about the pain Citadel was experiencing here. You can check out a whole slew of other hedge fund performance numbers from our most recent major hedge fund performance update.
